All Forum Posts by: Morgan Nilsen

Thank you all for your contributions. I am very grateful for the information you shared. 

Can someone provide me with a formula or something to tell me if im over leveraged?

not sure how to read your question. Can you phrase it again but in a different way?

If you want to know about other countries that have similar prices and rentals, why are you saying u want to focus on the uae and nigeria market?

The market in norway has similar prices, if that helps. The norwegian market is open for foreigners, but only give loans to people that get a sallary in norway. Happy to tell u more if u want to know

Budapest was the original plan but this property came up for me first and its such a good deal that im pushing budapest back a few months

forgive me. I am new to this and i forgot to mention that this property is in sweden. The prices are not in dollars but the values dont matter so much as the markets are very similar. The currency is in swedish kroner for those interested, but i invite you to please help on the topic of the post.

How can i leverage my situation so that i can drive the price down. Any tecniques i can use other than look disinterested and tell her i need to close fast?

im happy with the numbers mr Brogan.

Asking price is 225000. Closing costs are 6000. Im expecting renovation to cost about 20000.

Anual costs are aprox 25000 ink taxes and all other expenses.

Montly rent is aprox 5000. Making an anual income of 60000.

Calculating for vacancy and repairs, im expecting somewhere between 1000 and 2000 in montly cashflow.

Im expecting an ROI of aprox 11%.

about to make my very first deal, and im full of excitement. I spoke with the realtor and this is the sellers situation. Please give advice if u can on how i should proceed.

Asking price is 225.000. Seller is an old lady. She already has a new flat shes moving into in july. The realtor told me her morgage on the place exceeds the asking price and said its unlikely she will go under askingprice. Which already seems low compared to neighbourhood. The house has been on the market for 30 days, and the house was built in 1948. The house looks to be in good condition, but will naturally require some minor renovation.

Negotiations start this friday and i wish to be prepared.

My advantages are that im a cash buyer and i can close as fast as possible.

hei og velkommen hilsen Morgan fra Tønsberg!

Really great to see more norwegians here! i am really glad you found BP! write me a message if you wish to expand your network here!

This plan can have merit, but are you certain you want to go with the small home plan? I believe you leave yourself open to more risk if your stakes are too small.

Example: You have a vacation rental, it nets you $200/month. If your fridge breaks down on you, it will cost you the equivalent of weeks or months of profit to recoup the loss. 

If you have a bigger vacation rental, that nets you more, you get significantly less exposure to these things.

Another thing to consider is fixed costs, and their size in relation to your property income. Suppose you want wifi in your unit. the setup and monthly cost will be the same for a tiny place and for a big place.

Its much easier to keep a big fish tank than it is to keep a small one. Same thing with property (to a certain extent anyways). 

Worth considering I think. Hope this helps. It usually pays to think bigger

 Thank you for your input! Im definitly paying for a great photographer. Even going to have a video made as well. Dont see anyone else doing that and im confused as to why not with our technology today